Lost Super Waiting to be Found
If you’ve ever had a job in Australia, even short-term, your employer probably paid money into a super fund for you. Super is money set aside for your retirement while you’re working.
If you’re eligible, your employer will put some of your pay into a super fund, who invests the money for you. If your have ever changed a job, name, or super fund, you might have lost track of some of your super.
Super money is yours – even if you’ve moved, changed names, stopped using your old phone or email, or never signed up for an account. There’s more than $17 billion in lost and unclaimed super in Australia. People have found thousands of dollars they didn’t know they had.
Lost member super accounts are reported to the ATO by super funds. This happens where the member is either:
- uncontactable – your fund has lost contact with you and your account hasn’t received a contribution or rollover for 12 months. Changing your name, address or job can make you uncontactable
- inactive – no contributions or rollovers have been received by your fund for 5 years.
Lost member super accounts are generally held by the super fund until they can get in contact with you. If that is not possible, your account may be transferred to the ATO as unclaimed super.
To find out how much you Super have you can:
- search on your myGov account, which can be linked to the Australian Taxation Office (ATO)
- call the ATO automated super search line on 13 28 65
- call and speak to someone at the ATO on 13 10 20
If you have any questions or queries related to Super don’t hesitate to get in contact us at STS Accounting.
